SOLUTION: Can someone help me on this problem?
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Thanks
Algebra.Com
Question 54394: Can someone help me on this problem?
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Thanks,
Sher
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
-----------
Let the interest rate be "r"
r(2500)=275
r=275/2500
r=0.11 or 11%
Cheers,
Stan H.
RELATED QUESTIONS
Can someone help me solve this problem?
Ms. Jordan has been given a loan of $2,500... (answered by Nate)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by priya)
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by funmath)
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by uma,funmath)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by stanbon)
Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275,... (answered by tutorcecilia)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by 303795)
Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275,... (answered by dolly)
Ms. Jordan has been given a loan of $2,500 for 1 year. If
the interest charged is $275,... (answered by BrittanyM)